I was contacted, along with my siblings and others, by a landman about a new lease opportunity. Full disclosure, I know very little about mineral rights. There are 40+ people who have shares in the 2 tracts this oil & gas company is interested in. Most all of my siblings have not hesitated to sign the lease. However, I’m finding very little about this company other than they have only been around for a little over a year. The landman said they have big investors with big money but that doesn’t mean anything. I asked what happens if someone decides not to accept the lease and he said two things. One, if the person decides later, then the company will most likely offer less. And two, if you’re not in on the lease the money goes to the state. I just don’t know what to think. This guy told one of my siblings that most everyone (meaning the other people who also have rights on the two tracts) have signed on. As far as my siblings and I, we each have about 5 acres so not a lot. I would appreciate any thoughts. I just feel hesitant but it doesn’t seem I have too much choice. This is in Texas if that makes a difference. Thanks in advance. I have other questions I will ask in separate topics.
Scroll to the top of the page. Next to the New Topic blue rectangle there is a magnifying glass icon. Click on the icon and enter “Judon Fambrough” Choose one of the threads and click on the link to his paper “Rights and Responsibilities of Mineral Cotenants” or just do a Google search and open the Texas A&M pdf
Also search for this thread “What happens if I do not sign a lease in Wheeler County, TX?”
That sounds like a straight up lie. I’m sure a Texas attorney can provide you informaiton.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
Thanks AJ11. Much appreciated.
Thank you! I will probably consult an attorney.
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